Bharat Forge acquires 30% stake in Fortuna Engineering

Industry: Automotive    2 days ago

Bharat Forge has completed the acquisition of 27,08,754 equity shares of Rs. 10/- each at a premium of Rs. 478.45/- each (30% on fully diluted basis) subject to final adjustments in Fortuna Engineering in first tranche investment (Tranche I).

Consequent to the above, Fortuna Engineering has now become the Associate Company of Bharat Forge.

Source: Business-Standard